Interim report - second quarter of 2018

Friday, Schouw & Co. released its interim report for the second quarter of 2018. Consolidated revenue was up by 10% and EBITDA improved by 12%. According to company announcement of 10 August 2018, full-year EBITDA guidance is lowered to a range of DKK 1,580-1,700 million.

Highlights

Consolidated revenue grew by 10% in the second quarter of 2018 to DKK 4,534 million

EBITDA was up by 12% to DKK 399 million

Schouw & Co. lowers its full-year 2018 guidance due to isolated challenges facing BioMar in Norway and Fibertex Personal Care in Malaysia in the second half of 2018.

Share buy-back programme of up to DKK 200 million to be initiated.

Statement by Jens Bjerg Sørensen, President of Schouw & Co.

“During the second quarter of 2018, Schouw & Co. achieved good revenue improvements that were mainly driven by larger volumes sold and by BioMar’s entry to the Ecuadorian shrimp feed market. Earningswise, we achieved a relatively similar EBITDA improvement in spite of more competitive markets and generally challenging developments in prices of components and raw materials.

The segments that our companies are involved in generally continue to see good momentum. Unfortunately, we have had to lower our overall guidance for 2018 due to the outcome of contract negotiations in Norway and a weaker activity among larger customers served by Fibertex Personal Care in Malaysia. We will now focus on profitability and generating of cash flow, and over time we are expecting new volume growth.“

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At a glance

Schouw & Co. is a listed industrial conglomerate that makes long-term investments in leading businesses in which active and developing ownership is performed. Currently there are six large portfolio businesses.